Answers
Answer:
d. 20
Missing Information:
Explanation:
TO sovle for the consumer surplus we need to get the equilibrium price and quantity.
If P = 2 then:
Qd = 15 - (5 / 2) x 2 = 15 - 5 = 10
Now we need to knwo how much is the price that makes Lucy do not consume:
We solve for Qd = 0
0 = 15 - (5/2) x P
p = 15 / (5/2) = 6
Now we calculate the area of the consumer surplus which is the area of the demand curve above the equilibrium price.
10 x (6-2) / 2 = 10 x 4 / 2 = 20
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Markson Company had the following results of operations for the past year: Sales (8,000 units at $20) $ 160,000 Variable manufacturing costs $ 86,000 Fixed manufacturing costs 15,000 Variable administrative expenses 12,000 Fixed selling and administrative expenses 20,000 (133,000 ) Operating income $ 27,000 A foreign company offers to buy 2,000 units at $14 per unit. In addition to variable manufacturing and administrative costs, selling these units would increase fixed overhead by $1,600 for the purchase of special tools. Markson’s annual productive capacity is 12,000 units. If Markson accepts this additional business, its profits will:
write a response that describes how knowledge of the accounting equation and financial statements discussed in week 1 might be used by the Medical office Manager during normal business activities. Indicate in your answer why you believe this to be so.
Answers
Answer:
Required 1.
Jan 1
Cash $30,000 (debit)
Capital $30,000 (credit)
Jan 2
Rent Expense $2,450 (debit)
Cash $2,450 (credit)
Jan 3
Supplies $2,200 (debit)
Accounts Payable $2,200 (credit)
Jan 4
Accounts Payable $850 (debit)
Cash $850 (credit)
Jan 5
Cash $14,940 (debit)
Fees Earned $14,940 (credit)
Jan 6
Automobile Expenses $1,580 (debit)
Miscellaneous expenses $470 (debit)
Cash $2,050 (credit)
Jan 7
Salaries Expenses $2,000 (debit)
Cash $2,000 (debit)
Jan 8
Supplies Expense $1,100 (debit)
Supplies $1,100 (credit)
Jan 9
Capital $3,200 (debit)
Cash $3,200 (credit)
Required 2
Cash = $ 34,390 (debit)
Capital = $ 26,800 (credit)
Rent Expense $2,450 (debit)
Supplies = $ 1,100 (debit)
Accounts Payable = $ 1,350 (credit)
Fees Earned $14,940 (credit)
Automobile Expenses $1,580 (debit)
Miscellaneous expenses $470 (debit)
Salaries Expenses $2,000
Supplies Expense $1,100
Required 3.
Debit Credit
Cash $ 34,390
Capital $ 26,800
Rent Expense $2,450
Supplies $ 1,100
Accounts Payable $ 1,350
Fees Earned $14,940
Automobile Expenses $1,580
Miscellaneous expenses $470
Salaries Expenses $2,000
Supplies Expense $1,100
Totals $43,100 $43,100
Required 4.
a. Amount of total revenue recorded in the ledger = $14,940
b. Amount of total expenses recorded in the ledger = $7,600
c. Amount of net income for January = $7,340
Required 5.
Increased by $4,140
Explanation:
Calculation of T - Account Balances
Cash $30,000 - $2,450 - $850 + $14,940 - $2,050 - $2,000 - $3,200 = $ 34,390 (debit)
Capital $30,000 - $3,200 = $ 26,800 (credit)
Rent Expense $2,450 (debit)
Supplies $2,200 - $1,100 = $ 1,100 (debit)
Accounts Payable $2,200 - $850 = $ 1,350 (credit)
Fees Earned $14,940 (credit)
Automobile Expenses $1,580 (debit)
Miscellaneous expenses $470 (debit)
Salaries Expenses $2,000
Supplies Expense $1,100
Calculation of total expenses recorded in the ledger.
Rent Expense $2,450
Automobile Expenses $1,580
Miscellaneous expenses $470
Salaries Expenses $2,000
Supplies Expense $1,100
Total $7,600
Calculation of net income for January.
Sales Revenue $14,940
Less Expenses ( $7,600)
Net Income / (Loss) $7,340
Calculation of increase or decrease in owner’s equity for January.
Net Income / (Loss) $7,340
Less Drawings ($3,200)
Change $4,140
Therefore, Owners Equity Increased by $4,140
Answers
Answer:
$5,220
Explanation:
Given that
Estimated from ageing analysis = $5,900
Unadjusted debit balance of the Allowance for Doubtful Accounts = $680
The calculation of Bad Debt Expense is given below:-
The estimated Bad Debt Expense for the current year = Estimated from ageing analysis - Unadjusted debit balance of the Allowance for Doubtful Accounts
= $5,900 - $680
= $5,220
Therefore for computing the bad debt expenses for the current year we simply applied the above formula.
Answers
Answer:
Mail and online research.
Explanation:
Since in the given situation, it can be seen that the company does not have much amount to be incurred on the research so the best option is to do online research and mail as the person research and the telephone research becomes expensive as compared to the mail and online research
Therefore the above should be the answer
Answers
Answer:
Explanation:
1. The journal entry for declaration of dividend is shown below:
Retained Earnings A/c Dr
= (8,600 million shares × $0.18 per share) = $1,548 million
To Dividend payable in cash $1,548 million
(Being dividend is declared)
2. No journal entry should be passed on the record date
3. The journal entry for payment of the cash dividend is shown below:
Cash dividend payable A/c Dr $1,548 million
To Cash $1,5480 million
(Being payment is made for cash dividend)
Final answer:
The journal entries made by BusinessSoftware Corp. to record the declaration and payment of the cash dividend for its 8,600 million shares involve debiting retained earnings and crediting dividends payable on the declaration date, and debiting dividends payable and crediting cash on the payment date.
Explanation:
The journal entries made by BusinessSoftware Corp. to record the declaration and payment of the cash dividend for its 8,600 million shares would be as follows:
- Declaration Date:
- Retained Earnings DR $1,548,000 (8,600 million shares x $0.18 per share)
- Dividends Payable CR $1,548,000
- Payment Date:
- Dividends Payable DR $1,548,000
- Cash CR $1,548,000
Learn more about Journal entries here:
#SPJ12
Answers
Answer:
The answer is "".
Explanation:
You are equivalent investors in 16 percent of a portfolio and 4 percent of a risk-free asset. A weighted mean of these two will become the predicted return.
Answers
Answer:
Overhead volume balance= $29,400 unfavorable
Explanation:
Giving the following information:
From the following data, calculate the fixed overhead volume variance.
-Actual fixed overhead $40,000
-Budgeted fixed overhead $21,000
-Standard overhead allocation rate $6
-Standard direct labor hours per unit 4 DLHr
-Actual output 2,100.
Overhead volume variance= budgeted fixed overhead - fixed overhead applied= 21,000 - 50,400= 29,400 unfavorable